Atlas Engineered Products (CVE:AEP) Trading Down 10.1% - Here's Why

Key Points

• Atlas Engineered Products Ltd. (CVE:AEP) experienced a significant decline, with shares falling 10.1% to close at C$0.71 during recent trading.
• Despite the stock's current dip, analysts have set a consensus price target of C$1.58, indicating optimism with two ratings of "Buy" from brokerages.
• The company has a market cap of C$49.93 million and is involved in the design and manufacture of engineered components for residential and commercial buildings.

Atlas Engineered Products Ltd. (CVE:AEP - Get Free Report)'s share price was down 10.1% during mid-day trading on Saturday . The stock traded as low as C$0.67 and last traded at C$0.71. Approximately 649,129 shares changed hands during trading, an increase of 550% from the average daily volume of 99,912 shares. The stock had previously closed at C$0.79.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on AEP shares. Raymond James Financial set a C$1.50 price target on Atlas Engineered Products and gave the company a "buy" rating in a report on Wednesday, May 28th. Desjardins cut their price target on Atlas Engineered Products from C$1.50 to C$1.35 and set a "buy" rating for the company in a report on Tuesday. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of C$1.53.

Atlas Engineered Products Stock Down 1.4%

The company has a quick ratio of 2.31, a current ratio of 4.16 and a debt-to-equity ratio of 62.14. The company has a market cap of C$47.82 million, a price-to-earnings ratio of 68.00 and a beta of 0.39. The stock has a fifty day moving average price of C$0.84 and a two-hundred day moving average price of C$0.86.

About Atlas Engineered Products

Atlas Engineered Products Ltd. engages in the design, manufacture, and sale of engineered roof trusses, floor trusses, and wall panels in Canada. The company offers floor joists and floor panels; and design, engineering, permitting, project management, and site assembly services. It also distributes a range of engineered wood products for builders of residential and commercial wood-framed buildings, including single-family homes, townhouses, multi-story wood-framed residential buildings, commercial buildings, and agricultural structures.